The Chinese government certainly appreciates the delicate balance economic policy must strike between sustaining healthy, rapid economic development and transforming into a more domestic-consumption fueled nation. Stimulating domestic spending is necessary, but not sufficient to achieve a healthy economy in 2010.
This year is a crucial year in which China must stabilize its exports to ensure an 8% GDP growth, yet encourage and adjust current economic structure to support more domestic spending, a combination of which is vital to fend off the current global financial crisis. Furthermore, China seeks to achieve the targets of the 11th Five-Year plan and build the foundation for the 12th, putting equal emphasis on natural resource tax reform and the overall improvement of people’s livelihood.
It is a common concern of the deputies to the NPC and CPPCC as well as the Chinese people to see whether China’s economy can make a smooth transformation in 2010 in order to prevent an overheated economy and forestall a risky bubble in the real estate market, all the while managing capital inflow as well as currency reevaluation.
With its economic plate rather full, China presents itself as willing and capable to tackle the most pressing issues of 2010. The strength of its economy and people has been tested, and its businesses have proved durable and productive. As a top-3 Chinese law firm, Lehman, Lee, and Xu has experience in corporate business services, inbound and outbound investment, intellectual property, mergers, and acquisitions, and a variety of other services necessary to the thriving world of Chinese business. Scott Garner, director of the Shanghai office, stated “We are especially excited about the business opportunities the upcoming World Expo is going to bring to China. Guaranteed to be a source of wealth for domestic growth, our services at Lehman, Lee, and Xu can be tailored to suit the needs of our customers, strengthened by the experience we have had in previous events such as the 2008 Beijing Olympics. The quality of the Chinese economy is sure to shine in the upcoming months.”
For more information about Lehman, Lee & Xu, please visit the firm’s website at www.lehmanlaw.com or feel free to e-mail the Beijing office at mail@lehmanlaw.com.